At a US auction, the value of iPhones defied the usual trend of depreciating immediately after purchase.
A rare first edition, unopened 4GB model was sold for an astonishing $190,372.80 (£145,416).
These particular models were produced in limited quantities, making them highly sought after by iPhone collectors who consider them the “Holy Grail” of iPhone memorabilia.
Conducted by LCG Auctions, the lot garnered significant attention with a total of 28 bids, resulting in a sale that reached nearly 400 times the original price.
The final amount includes administrative costs in addition to the hammer price paid by the buyer, known as the “buyer’s premium.” It’s important to note that the buyer’s premium is retained by the auction house and does not go to the seller.
LCG Auctions described the first edition iPhone as a “popular high-end” and a “red-hot collectable,” highlighting the fact that two other factory-sealed, first edition iPhones had achieved record-breaking values in the past year.
The website described the model as an “exceedingly rare, factory sealed, first-release 4GB model in exceptional condition. Virtually flawless along the surface and edges, the factory seal is clean with correct seam details and tightness”.
he auction for the first edition, unopened 4GB model of the iPhone surpassed all expectations, fetching a staggering $190,372.80 (£145,416). Originally priced at $599 (£457) upon its release in 2007, the 4GB model was discontinued after just two months due to slow sales.
While the 8GB model, offering double the storage space, became the preferred choice for most consumers at a slightly higher price, the rarity of the 4GB model has made it highly sought-after by Apple enthusiasts and collectors.
This auction is part of a trend where unique Apple memorabilia and artifacts related to Steve Jobs’ life and career garner significant attention. Previous items sold include a poem he wrote in a high school yearbook, college photos, and a business card from 1978.
Steve Jobs, the co-founder of Apple, passed away in 2011 at the age of 56 after battling pancreatic cancer. His contributions to the world of technology and innovation are widely recognized, with products such as the iMac, iPod, iPhone, and iPad revolutionizing various industries and improving the lives of people worldwide.